Wed, Jan 16, 2013 - Page 20 News List

Armstrong admits doping in Oprah interview: media

AFP, AUSTIN, Texas

The Lance Armstrong Foundation has raised almost US$500 million since its creation 16 years ago.

In the wake of the allegations, several top sponsors, such as sportswear giant Nike, dumped Armstrong, and on Nov. 14, Livestrong dropped his name from the foundation.

On the legal front, since the UCI effectively erased Armstrong from the record books, the Sunday Times of Britain has sued him for more than £1 million (US$1.6 million) over a 2006 libel payment.

It had paid Armstrong £300,000 to settle a libel case after publishing a story suggesting he may have cheated, and now wants that money, plus interest and legal costs, repaid.

A Texas insurance company has also threatened legal action to recoup millions of dollars in bonuses it paid him for multiple Tour victories.

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